(also final salary pension scheme)
Definition of final salary scheme in English:
A company pension scheme in which employees' pension payments are calculated according to their length of service and their salary at the time of retirement.
- However, he has no plans to campaign for MPs to lose their lucrative final salary schemes.
- Precision engineering firm Renishaw becomes latest firm to close final salary scheme.
- Occupational pensions were traditionally based on the principle of a final salary scheme.
What do you find interesting about this word or phrase?
Comments that don't adhere to our Community Guidelines may be moderated or removed.
Most popular in the US
Most popular in the UK
Most popular in Canada
Most popular in Australia
Most popular in Spain
Most popular in Malaysia
Most popular in Pakistan